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Deoffshorization Policy: Case Of Russian Companies

Author

Listed:
  • Anna Loukianova

    (Graduate School of Management, Saint Petersburg University)

  • Egor Nikulin

    (Graduate School of Management, Saint Petersburg University)

  • Alexander Kanivetc

    (Graduate School of Management, Saint Petersburg University)

Abstract

This paper investigates the impact of deoffshorization on the market value of Russian companies. The methodology of event study was used. Three events were analyzed, including the announcement of intentions to leave offshores from several major companies and the introduction of anti-offshore legislation (December 2013 - March 2014). We have not revealed any mutually significant market response to the selected events, since some of the firms faced positive cumulative abnormal returns, while the others encountered negative ones. At the same time, an empirical study showed evidence of significant negative effect on the market value for several companies. It can be argued that the deoffshorization impact on companies depends to a large extent on the offshore structure they use. Companies that are significantly exposed to deoffshorization need to adjust their strategy in order to counter potential negative consequences of this process

Suggested Citation

  • Anna Loukianova & Egor Nikulin & Alexander Kanivetc, 2017. "Deoffshorization Policy: Case Of Russian Companies," CBU International Conference Proceedings, ISE Research Institute, vol. 5(0), pages 279-285, September.
    • Handle: RePEc:aad:iseicj:v:5:y:2017:i:0:p:279-285
    DOI: 10.12955/cbup.v5.939
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    More about this item

    Keywords

    offshoredeoffshorization; deoffshorization policy; company valuation;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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